After 20-21 months since the Pandemic began, people all around the world have experienced a WIDE-RANGE of effects from COVID itself, as well as paranoia of catching the virus, some feeling claustrophobic, having trouble breathing while wearing the facial masks, becoming fearful from going outdoors OR anxious about constantly staying indoors, etc.
Another large percentage of adults have begun to feel so much more comfortable staying inside, not dressing up in office attire or driving in traffic that they are seriously examining and calculating if they could retire early. The fact is that staying at home can save many a good deal of money: needing to spend substantially less on gas (which keeps escalating in price). No longer purchasing work attire saves money. Less socializing: reducing the purchase of movie tickets, sports events, fewer social gatherings at bars and restaurants, but instead going on picnics, hiking or bike riding.
More of our neighbors are having pools built, or basketball courts, or even big firepits and grills. The more people are adapting to a slower-paced life, the more people talk about “Retirement”. It’s amazing how many activities are free or are much lower-priced — like fishing, swimming in a lake or river, and the purchase of a small rowboat or canoe is fairly inexpensive.
In case you haven’t noticed a LOT of people are retiring these days. The key factor is to meet with your financial adviser or CPA to evaluate your investments, savings, and earnings. From what has been happening over the past 1.8 years, and with still many not taking the vaccinations, causing more to catch COVID, the business world will have a huge challenge rebounding. As long as so many are letting COVID rule, the economy will continue to struggle.
Therefore, if Retirement is “calling your name”, take time to research your investment funds thoroughly. However, don’t jump ship unless you are confident that your finances are in good enough shape to last. Though many are retiring, make sure you are financially prepared for the long haul. You wouldn’t want to outlive your money. Your retirement plan must be secure. Retirement is another form of “transition”. Meanwhile, stay healthy and safe. Compass Career Management Solutions encourages wise, strategic planning.